The Coastal and inland shipping ACT otherwise known as the Cabotage ACT was enacted in 2003 in order to restrict the use of Foreign Vessels in domestic coastal trade to promote the development of Indigenous tonnage and to establish a cabotage vessel financing fund and for related matters.
The ACT is stratified into nine parts and dealing with different aspects of the ACT namely
Part 1 Short Title And Interpretation, Part II Restriction of Vessels In Domestic Coastal Trade ,Part III Waivers ,Part IV Licence To Foreign Vessel ,Part V Registration, Part VI Enforcement ,Part VII Offences ,Part VIII Cabotage Vessels Financing Fund ,Part IX Miscellaneous.
Nigeria aspires to be amongst the top 20 largest economies by the year 2020 according to the economic policy of Vision 2020 and successful implementation of the Cabotage Laws in Nigeria is critical to the success or otherwise of the plan because of the important role shipping plays in not just the movement of goods and services around the country and the revenues collected as tax from companies in the sector.
The ACT would also catalyze the growth and development of the transportation sector due to the over dependence of the nation on road transportation and the consequent damage of the roads since the collapse of the railway system in Nigeria. The growths are expected when the dredging activities currently going on in the nation’s inland waterways are concluded.
Other benefit of the ACT also includes creation of employment opportunities, development of inland waterway depot and technology transfer in the areas of repair and building of vessels in the country.
Do you seek shipping and maritime opportunities in Nigeria ,want to the full cabotage ACT or you just want to know more about the subject matter as it affects Nigeria, Please do visit our sister website www.nigeriabusinessplace.com, register and click on the maritime board and start you rewarding contributions.
Should you require a market research report, please do contact us.
————————————————————————————————————————————————————
365 Campaigner is a complete suite of social collaboration, communication and management tools for your team.
From List building solution to event announcement and CRM, 365 Campaigner provides everything you need to boost sales, step up productivity and manage all day-to-day activities. Tightly integrated.
365 Campaign is the one stop shop for digital marketing solutions for businesses, politicians, religious organizations and individuals. Visit www.365campaigner.com for more information.
————————————————————————————————————————————————————–
At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for start-ups and those already in business.
Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
Do you require one- on- one consultancy on the subject matter? Contact us with any of the details provided below to arrange a meeting
Office Phone Number: 01- 295 24 13 {Monday – Saturday; 8 am – 5 pm}
Mobile Number: +234 {0} 8033782777; + 234 (0) 908 335 7733 {Monday – Saturday; 8 am – 6 pm}
E-Mail Address: enquiries@foramfera.com
CC: foraminiferamarketresearch@yahoo.com
Office Address:
61-65 Egbe- Isolo Road,
Iyana Ejigbo Shopping Arcade,
Block C, Suite 39,
Iyana Ejigbo Bus Stop,
Ejigbo, Lagos.
